earnings
confidence high
sentiment neutral
materiality 0.75
Gladstone Commercial Q4 Core FFO $0.40; CEO Cutlip to retire June 2022; acquired 11 properties for $99.7M in 2021
GLADSTONE COMMERCIAL CORP
2021-FY EPS reported
-$0.12
revenue$137,688,000
- Q4 total operating revenue $35.3M (+2.8% QoQ); FFO $0.40/share (down 9.1%); Core FFO $0.40 (up 2.6%).
- FY 2021 net loss available to common $4.6M ($0.12 loss per share) vs income $3.2M in 2020.
- Acquired 11 industrial properties for $99.7M at 7.03% cap rate; issued Series G Preferred raising ~$96.6M; redeemed Series D.
- Monthly common dividend increased to $0.125275 in Oct 2021, then to $0.1254 in Jan 2022.
- President Bob Cutlip intends to retire by June 30, 2022; Arthur 'Buzz' Cooper appointed co-President.